Metis CEG Program: CVP Episode 12 vote: QiDao

Yet another exciting episode of our great CEG program that aims in giving the community the power to vote on Metis partnerships, we are pleased to present to the community an awesome Project and a candidate of this episode's VCP,
Following an interesting and educative Livestream on our CEG Governance Youtube, We Present:

QiDao, a decentralized collateralized debt position stablecoin protocol allows users can deposit tokens as collateral to issue MAI, the protocol’s decentralized stablecoin. QiDao has grown to become one of the largest stablecoin protocols on several chains and has currently accepted Metis as collateral. Mai Finance is a website that connects users to the QiDao Protocol, which is where the vaults are created and stablecoins are minted.

QiDao is a way for you to keep your crypto and still be able to spend its value. That means you’re able to mint stablecoins without having to sell your crypto assets, and do so at 0% interest. The process is simple: create a vault, deposit your crypto assets, and mint stablecoins against your collateral’s value.

Most collateral types are eligible for Qi vault incentives. Vault incentives are rewarded to vaults that have a MAI debt balance and maintain a healthy collateral to debt ratio (CDR). A healthy CDR is defined as 25% to 270% above liquidation ratio. Every 2 weeks, Qi holders are able to vote on which collateral types will receive 180k Qi/week of vault incentives.

QiDao Vaults features

• Deposit crypto assets as collateral
• Mint MAI at 0% interest
• Earn Qi incentives for borrowing
• Repay loan (0.5% repayment fee)
• Withdraw collateral
• Transfer vault to another wallet if you wish

Qi Boosting features

• Lock Qi from 1 week up to 4 years
• The longer your lock the more voting power and reward boost you receive
• Must lock to receive weekly revenue share based

Absolutely buzzing right? Make QiDao a CVP? Let your vote Speak!!!

Built for the people, run by the people.

-Team Metis